Thanks Coaster. That looks to be a strange place for a cud/chip to occur. I can understand how a die may break down and lose metal from areas that are 'convex' or press into the planchet but that is the first time I have seen one in an area that is concave (sorry don't know the technical terms). As far as I can remember the examples I have seen are on the edges of raised parts of the die or thin parts like between feathers on the lyrebird.
Something else for me to look for.